July 23, 2010 11:07 AM

printer

IT dept streamlines tax refund procedure for faster payment

In a move that will speed up the issuance of I-T refunds, the Income Tax Department for the first time will accept all TDS credit and refund claims not exceeding 3 lakh rupees and 25 thousand respectively, at the stage of processing of income tax returns itself. Central Board of Direct Taxes, CBDT, has communicated the order applicable for the assessment year 2009-10 to all the Chief Commissioners of Income Tax in various tax collecting ranges across the country. A senior Income Tax Official said that the I-T department has taken the step to fasten and streamline the process of issuing refunds. The order will be beneficial in view of the income tax returns filing, which will happen till this month end. The official said, in all other remaining cases, the claims will be processed after proper verification.

Most Read
View All arrow-right

No posts found.